Pathstone Holdings LLC Boosts Stake in Regal Rexnord Co. (NYSE:RRX)

Pathstone Holdings LLC increased its stake in Regal Rexnord Co. (NYSE:RRX) by 9.9% during the third quarter, Holdings Channel.com reports. The firm owned 24,983 shares of the company’s stock after purchasing an additional 2,253 shares during the quarter. Pathstone Holdings LLC’s holdings in Regal Rexnord were worth $4,144,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in shares of Regal Rexnord in the second quarter worth about $46,000. 1620 Investment Advisors Inc. purchased a new stake in Regal Rexnord in the 2nd quarter worth approximately $52,000. UMB Bank n.a. raised its stake in Regal Rexnord by 72.5% during the 3rd quarter. UMB Bank n.a. now owns 345 shares of the company’s stock worth $57,000 after acquiring an additional 145 shares during the period. EntryPoint Capital LLC bought a new stake in Regal Rexnord during the 1st quarter worth approximately $68,000. Finally, GAMMA Investing LLC lifted its holdings in Regal Rexnord by 13.9% during the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after purchasing an additional 79 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

Regal Rexnord Stock Up 2.1 %

RRX opened at $177.37 on Friday. The firm has a 50-day simple moving average of $170.10 and a two-hundred day simple moving average of $157.21. Regal Rexnord Co. has a 52 week low of $113.79 and a 52 week high of $185.28. The company has a market capitalization of $11.75 billion, a PE ratio of 55.95, a price-to-earnings-growth ratio of 1.88 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 2.45 and a debt-to-equity ratio of 0.87.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.48 by $0.01. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the firm earned $2.10 EPS. The business’s revenue was down 10.4% on a year-over-year basis. Analysts forecast that Regal Rexnord Co. will post 9.25 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s payout ratio is 44.16%.

Insider Activity at Regal Rexnord

In related news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $180.03, for a total value of $1,579,583.22. Following the completion of the transaction, the chief executive officer now owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citigroup assumed coverage on shares of Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 price objective on the stock. Loop Capital reiterated a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research note on Thursday, September 19th. Robert W. Baird cut their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. The Goldman Sachs Group increased their price target on Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Barclays increased their price target on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.00.

Regal Rexnord Profile

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.